2012 – A SWOT Analysis Looking into the Future of Education Marketing
An audio recording and notes as presented from our Webinar Presented on January 5th, 2012 by Gregg Meiklejohn of Enrollment Resources Inc.
What is the key strength for our industry, going forward?
- There is better structure in the industry now.
- For those attached to the federal government student loan trough, there’s a better understanding of ‘the rules’.
- Because of the new rules there is a greater barrier to entry for new players.
- Assumed contraction of programs will help those left behind.
- Schools with Career Services departments have a distinct competitive advantage over Public Junior Colleges.
- Enrollment Management is inefficient.
What is the major weakness or issue we face as an Industry in the next year?
- The contraction of programs will hurt some schools. Fewer two year secretarial programs.
- New DOE rules are here to stay and will punish schools that do not embrace them.
- Schools that are sucking on the government funded loan teat are heavily exposed because the weak U.S. economy coupled with serious European debt contagion will put serious downward pressure on government spending at all levels of government.
- Placement is the key battleground in Enrollment Management, prepare for a real scrap. Most schools have their head in the sand.
- Admissions Reps can no longer be incentivized in any way. Over time persuaders will leave the industry, being replaced by service personnel.
Where is the ‘big opportunity’ going forward?
- Offer short run certificates with lower prices.
- Blended online/bricks mortar learning environment. Become Regional Centers
- Banks, Credit Unions and Savings and Loans are looking for certain types of business again.
- In spite of the jobless recovery/protracted recession, there are 14 million unfilled jobs in the U.S.. Can schools create Curriculum development co-ops? (like marketing co-ops)
- Increase short term revenues by fixing rampant inefficiencies in Admissions.
- Increase short term revenue through better copywriting, marketing and lead qualification.
- Increase mid range revenues by turning Career Services into a Business Development Machine.
- Develop referral-based marketing to a greater degree.
- Offer Career Booster and Career Changer Certificates aimed at older learners.
What is the greatest threat we face in 2012?
- New enrollments might be limited or suspended due to weak placement rates.
- Some programs will be forced to drop, by the DOE and friends.
- Contraction of government funding/economy will find its way to education budget cuts at the student loan level. State funded schools will be particularly hard hit.
- Incentivized compensation rules will cause Admissions rates to flounder.
- Lead quality will be exposed as weak because reps will no longer cover up for crummy lead quality.